Ethereum just looks like a gigantic Ponzi right now, especially with two chains that are backwards compatible up to the fork (replay attack). so, no I do not see how it is a threat to Bitcoin's dominance.
Ethereum is not a threat to bitcoin and it never was but a complementary coin to bitcoin. It is also not a ponzi scheme and it is trustworthy second to bitcoin.
But if I am wrong and you have solid evidence to back-up your claim then I suppose you could lay it down the table so we can also be equipped with data and warn other users about ethereum.